…The NASD market mirrored the broader equities market’s positive trajectory, with the NASD Security Index (NSI) advancing 1.41% to close at 4,141.53 points.
By theG&BJournal
MON MAR 02 2026-theGBJournal| The Nigerian Exchange Limited (NGX) snapped a four-day losing streak on Monday, as the All-Share Index (ASI) climbed 1.40% to close at 195,453.06 points.
The recovery added approximately N1.72 trillion to the market capitalization, effectively reversing some of the bearish sentiment that dominated the final week of February.
The rally was largely fueled by renewed investor interest in heavyweights like Aradel Holdings, Dangote Cement, and NGX Group, which served as the primary engines for the day’s rebound.
Market analysts attribute this positive turnaround to aggressive bargain hunting by investors looking to capitalize on the lower valuations triggered by the recent sell-offs.
According to trading data, Aradel surged by nearly 10% to cross the N1,100 threshold, while Dangote Cement and MTN Nigeria recorded significant gains.
This “bullish expansion” comes despite broader macroeconomic concerns, suggesting that local investors remain optimistic about corporate earnings and the long-term resilience of top-tier industrial and banking stocks.
The broad-based rally was felt across several key sectors, though the “Heavyweights” provided the most significant lift to the All-Share Index.
Industrial Goods sector was a major driver of the N1.72 trillion market cap gain, primarily due to Dangote Cement, which rose 3.97% to close at N809.90.
Aradel Holdings remained the star performer in the Energy & Oil/Gas space. Investor confidence in the energy sector is currently high, bolstered by recent reports of record revenues from industry peers like Seplat.
The Financial Services sector was the most active sector by volume.
While NGX Group hit the price ceiling, banking stocks like Zenith Bank and Access Holdings saw high trading volumes (30 million+ units) as investors rebalanced portfolios following the February sell-offs.
PZ Cussons led the gainers in the Consumer Goods sector` (+9.72%), as the sector begins to recover from inflationary pressures, supported by stronger-than-expected year-end corporate earnings.
Similarly, the NASD market mirrored the broader equities market’s positive trajectory, with the NASD Security Index (NSI) advancing 1.41% to close at 4,141.53 points. Market capitalization rose by an equivalent margin to settle at N2.48trn.
Trading activity contracted significantly during the session, with transaction volume and value declining by 60.95% and 79.32%, respectively.
SDCSCSPLC (+8.94%) emerged as the top gainer, while SDAFRILAND (-0.75%) recorded the session’s steepest decline.
In contrast to the equity market’s gains, the Nigerian naira faced renewed pressure in the foreign exchange market, depreciating by 0.5% to close at approximately N1,360/$1 in the official window.
While external reserves have hit a 13-year peak, the slight dip in the naira’s value reflects a surge in demand typical of the start of a new month.
The narrow spread between the official and parallel markets—currently holding at roughly 1%—indicates a continuing convergence of rates, even as the local currency navigates the impact of the Central Bank’s recent shift toward monetary easing.
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